President Bola Tinubu has expressed appreciation to NIPCO Plc for its significant investments in Nigeria’s Compressed Natural Gas (CNG) sector during a meeting with the company's executives at the State House in Abuja.
In a statement from Bayo Onanuga, the President’s Special Adviser on Information and Strategy, Tinubu recognized NIPCO’s vital role in supporting Nigeria’s energy transition through the Presidential Compressed Natural Gas Initiative (PCNGI). He emphasized that NIPCO’s efforts align with his administration’s goals of enhancing energy security and promoting economic diversification.
Highlighting the importance of CNG as an alternative fuel, Tinubu noted that NIPCO has been instrumental in reducing the nation’s reliance on petrol and lowering fuel costs for consumers. He stressed the necessity of public-private collaboration for a successful shift to cleaner energy solutions.
The President also praised NIPCO’s "Switch to CNG" campaign, which has effectively raised awareness about CNG and facilitated access to affordable conversion kits for consumers ahead of the PCNGI’s official launch. He mentioned the significant cost savings for motorists, comparing petrol prices to CNG rates.
“Nigeria’s motorists can buy petrol at N1,000 per litre or gas at N200 per Standard Cubic Meter,” he said, adding that incentives for commercial motorists to transition to gas have also been introduced.
Tinubu reiterated his commitment to fostering a conducive environment for private sector investments and expanding the CNG infrastructure. He urged NIPCO to continue its innovative initiatives in promoting CNG.
Responding, NIPCO’s Director, Ramesh Kasangra, thanked the President for his support and reaffirmed the company's dedication to collaborating with the government on Nigeria’s energy transition. He committed to investing in the infrastructure needed to enhance CNG accessibility nationwide. NIPCO has been a prominent player in Nigeria's economy for over 40 years, reinforcing its long-term commitment to the nation’s development.
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